Crew Gold Corporation

Crew Gold Corporation

December 29, 2009 08:54 ET

Crew Gold Corporation: Listing Prospectus in Connection With the Issuance of New Shares

LONDON, UNITED KINGDOM--(Marketwire - Dec. 29, 2009) - ("Crew" or "the Company") (TSX:CRU)(OSLO:CRU): Reference is made to the previous stock exchange announcements regarding the financial restructuring in Crew conducted in December 2009 (the "Restructuring") and the issuance of 2,031,528,184 new shares (the "New Shares") in the Restructuring conducted in December 2009.

Oslo Børs ASA has now approved the prospectus required for the listing of the New Shares. The prospectus is available to the public on Crew's website:

The New Shares have been created in accordance with the laws of the Yukon Territory, Canada, and issued under ISIN CA2265346007. This ISIN places a transfer restriction period on the New Shares of four months and one day from their issuance with regard to trading on Canadian stock exchanges and to Canadian residents. Following the lapse of the transfer restriction period on April 5, 2009, the New Shares will be transferred to Crew's main Norwegian ISIN CA2265344028.

The New Shares will be tradable on Oslo Børs from and including December 29, 2009, and will trade under the ticker code CRU R.

William LeClair, Chief Executive Officer

Safe Harbour Statement

Certain statements contained herein that are not statements of historical fact may constitute forward-looking statements and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where Crew is conducting business and/or investor relations. The words "expect", "anticipate", "will", "believe" and "may", and other similar expressions, are often used to identify forward-looking statements. Forward-looking statements included herein relate, but are not limited to, statements regarding (1) the completion of the proposed Restructuring, (2) the expected impact of the Restructuring, (3) the results of the resource and reserve reviewing currently underway at the LEFA gold mine, and (4) expected shareholdings following completion of the Restructuring. 

Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to be materially different from the events or results expressed or implied by such forward-looking statements. In evaluating these statements, prospective purchasers should specifically consider various factors that may cause actual events or results to be materially different from the events or results expressed or implied by such forward-looking statements. Risk factors that could impact the Company include, without limitation, risks relating to (1) receipt of all necessary approvals of the Restructuring, (2) the actions of bondholders in enforcing the existing terms of the bonds, (3) production levels at the LEFA gold mine. Although Crew has attempted to identify important factors that could cause actual events or results to differ from those described in forward-looking statements contained herein, there can be no assurance that the forward-looking statements will prove to be accurate as actual events or results could differ materially from those anticipated in such statements.

The material factors and assumptions used to develop forward-looking statements include, without limitation, (1) there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, damage to equipment or otherwise, (2) continued development, operation and production at LEFA consistent with our current expectations, (3) foreign exchange rates among the currencies that Crew does business in being approximately consistent with current levels, (4) certain price assumptions for gold, (5) prices for electricity, fuel oil and other key supplies remaining consistent with current levels, (6) production forecasts meeting expectations, and (7) materials and labour costs increasing on a basis consistent with our expectations.

Except as may be required by applicable law or stock exchange regulation, the Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.

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